Announcement • Apr 13
Argent BioPharma Limited (ASX:RGT) completed the acquisition of 48% stake in Cannpal Animal Therapeutics Limited from AusCann Group Holdings Ltd. Argent BioPharma Limited (ASX:RGT) signed a letter of intent to acquire 48% stake in Cannpal Animal Therapeutics Limited from AusCann Group Holdings Ltd for AUD 1.2 million on January 14, 2026. The consideration consists of 20 million common equity of Argent BioPharma Limited to be issued for common equity of Cannpal Animal Therapeutics Limited. As part of consideration, an undisclosed value is paid towards common equity of Cannpal Animal Therapeutics Limited.
The transaction is subject to approval of offer by acquirer shareholders approving the issue of the Consideration Shares. As of April 13, 2026 the transaction has been approved by the acquirer shareholders.
Following completion, Mr Andrew Chapman will join the Board of Argent BioPharma as an Executive Director. Concurrently, Mr Roby Zomer will transition to the role of Non-Executive Chairman, supporting the Company’s next phase of development, including its U.S. national exchange listing strategy and the integration and advancement of the newly acquired assets and advancing potential USA partnership and commercial opportunities.
Argent BioPharma Limited (ASX:RGT) completed the acquisition of 48% stake in Cannpal Animal Therapeutics Limited from AusCann Group Holdings Ltd on April 13, 2026. Announcement • Oct 21
Argent BioPharma Limited, Annual General Meeting, Nov 28, 2025 Argent BioPharma Limited, Annual General Meeting, Nov 28, 2025. Announcement • Apr 03
Argent BioPharma Limited Announces Cannepiltm, Its Cannabinoid-Based Therapy for Refractory Epilepsy, Receives Approval for Prescription in Germany Under Special Access Scheme Argent BioPharma announced that CannEpilTM, its cannabinoid-based therapy for refractory epilepsy, has been approved for prescription in Germany under special access scheme. This approval represents a major milestone in the company's European expansion strategy and reinforces its commitment to providing innovative treatments for central nervous system (CNS) disorders. This achievement marks a significant step in Argent BioPharma's European expansion, strengthening its presence in Germany, a key pharmaceutical hub. Establishing a foothold in this market paves the way for broader penetration into other EU markets with similar regulatory pathways, facilitating wider adoption of Argent's therapies. Beyond geographical growth, this milestone underscores the increasing acceptance of cannabinoid-based medicine for CNS disorders. It positions CannEpilTM as an accessible treatment for refractory epilepsy, offering a vital alternative for patients with limited therapeutic options. Strategically, this progress enhances Argent BioPharma's growth trajectory while reinforcing its leadership in neuroimmune modulation and CNS-focused therapeutics. Most importantly, it ensures life-changing treatment access for patients who need it most, aligning with the company's mission to innovate and expand the reach of medical solutions. Physician Recommendations & Prescription Pathway: CannEpilTM is now available for prescription by qualified physicians in Germany; Patients may be eligible for health insurance coverage depending on their physician's recommendation and case assessment; This approval significantly enhances access for patients with drug-resistant epilepsy. Epilepsy in Germany: Approximately 816,000 people in Germany are diagnosed with epilepsy, with a substantial portion suffering from drug-resistant forms (PMC9480957); Current treatment options remain limited, underscoring the critical need for novel therapeutic approaches; and CannEpilTM offers a promising alternative to traditional treatments, leveraging cannabinoid-based neuroimmune modulation for seizure management. Next Steps: Initiate physician education programs across Germany; Expand CannEpilTM distribution and accessibility through key German partners; Continue regulatory efforts to gain approval in additional EU markets; and Monitor market uptake and patient outcomes to support ongoing research and development. Announcement • Mar 17
Argent BioPharma Ltd. Announces Positive Phase IIb Clinical Trial Results for CimetrA Argent BioPharma Ltd. announced positive Phase IIb clinical trial results for CimetrA®?, a novel anti-inflammatory treatment. The study confirmed CimetrA®?'s strong safety profile and demonstrated faster recovery times in COVID-19 patients. Key Findings: No drug-related adverse events, reinforcing CimetrA®?'s safety. Faster clinical improvement versus placebo, measured by the WHO Ordinal Scale. Reduced inflammation, with significant modulation of key inflammatory markers (IL-6, IL-1b, TNF-a, and more). Improved quality of life trends observed in CimetrA®?-treated patients. With these findings, Argent BioPharma continues to advance innovative therapies. One such therapy, CannEpil®?, is an oral mucosal solution with a high-CBD, low-THC formulation. It is designed to reduce seizure frequency and severity while minimizing psychoactive effects. After years of clinical development, CannEpil®? is making waves in the UK as part of a movement to transform severe epilepsy treatment. This further reinforces Argent BioPharma's commitment to addressing global health challenges. Announcement • Feb 05
Argent Biopharma Limited Announces Resignation of Layton Mills as A Non-Executive Director Argent BioPharma Limited announced that Mr. Layton Mills has tendered his resignation as a Non-Executive Director, effective upon the appointment of a suitable Australian replacement. The Company is currently in advanced discussions with several highly qualified candidates and will provide an update to Shareholders as soon as an appointment is finalised. Announcement • Nov 28
Argent Biopharma Limited Appoints Daniel Robinson as Director Argent BioPharma Limited at its GAM held on 28 November 2024 approved Election of a Director - Daniel Robinson. Announcement • Oct 28
Argent BioPharma Limited has completed a Follow-on Equity Offering in the amount of AUD 0.2 million. Argent BioPharma Limited has completed a Follow-on Equity Offering in the amount of AUD 0.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 666,667
Price\Range: AUD 0.3
Transaction Features: Subsequent Direct Listing Announcement • Oct 24
Argent BioPharma Limited has filed a Follow-on Equity Offering in the amount of AUD 0.2 million. Argent BioPharma Limited has filed a Follow-on Equity Offering in the amount of AUD 0.2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 666,667
Price\Range: AUD 0.3
Transaction Features: Subsequent Direct Listing Recent Insider Transactions • Oct 16
Co-Founder recently bought AU$1.6m worth of stock On the 15th of October, Roby Zomer bought around 4m shares on-market at roughly AU$0.41 per share. This transaction increased Roby's direct individual holding by 3x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Roby's only on-market trade for the last 12 months. Reported Earnings • Oct 04
Full year 2024 earnings released: AU$0.47 loss per share (vs AU$7.07 loss in FY 2023) Full year 2024 results: AU$0.47 loss per share (improved from AU$7.07 loss in FY 2023). Revenue: AU$891.1k (down 74% from FY 2023). Net loss: AU$17.5m (loss narrowed 16% from FY 2023). Announcement • Sep 25
Argent BioPharma Limited, Annual General Meeting, Nov 28, 2024 Argent BioPharma Limited, Annual General Meeting, Nov 28, 2024. Announcement • Sep 23
Argent BioPharma Provides Update on Proposed Delisting from the Australian Securities Exchange Argent BioPharma Limited provided the update regarding its proposed delisting from the Australian Securities Exchange (ASX). The Company reminded shareholders that it will be holding a shareholder vote at 4:00 PM (AWST) on 1 October 2024, at Suite 1, 295 Rokeby Road, Subiaco WA 6008 to allow shareholders to vote (amongst other things) on its proposed delisting from the ASX. Any proposed delisting from the ASX is conditional on, amongst other things, shareholder approval. To remain eligible to be listed on the London Stock Exchange's Main Market and the Financial Conduct Authority's (FCA) Official List in the event of a delisting from the ASX, application must be made to, and approved by, the FCA to transfer the Company's listing category on the Official List in accordance with the UK Listing Rules (Application). The Company is currently listed on the equity shares (international commercial companies secondary listing) category of the FCA's Official List, but prior to any delisting from ASX, the Company intends to apply to move its listing to the equity shares (commercial companies) category (ESCC) of the FCA's Official List. There are a number of prerequisites and eligibility requirements that will need to be met for an Application to be approved, one being the appointment of a Sponsor, and following any such transfer the Company would be subject to additional disclosure and corporate governance obligations. There can be no guarantee whether or when an Application to transfer listing category will be approved, in which case there is no guarantee that the Company will delist from the ASX, notwithstanding whether shareholder approval is given. The Company will not delist from the ASX without such approval of the Application to transfer to the ESCC. Reported Earnings • Aug 31
Full year 2024 earnings released: AU$0.47 loss per share (vs AU$7.07 loss in FY 2023) Full year 2024 results: AU$0.47 loss per share (improved from AU$7.07 loss in FY 2023). Revenue: AU$891.1k (down 74% from FY 2023). Net loss: AU$17.5m (loss narrowed 16% from FY 2023). New Risk • Aug 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 11x increase in shares outstanding). Revenue is less than US$1m (AU$1.3m revenue, or US$862k). Market cap is less than US$10m (AU$13.1m market cap, or US$8.50m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Announcement • Jul 18
Argent BioPharma Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million. Argent BioPharma Limited has completed a Follow-on Equity Offering in the amount of AUD 2 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,500,000
Price\Range: AUD 0.8
Transaction Features: Subsequent Direct Listing New Risk • Jun 03
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.9m (US$9.93m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 12x increase in shares outstanding). Revenue is less than US$1m (AU$1.3m revenue, or US$880k). Market cap is less than US$10m (AU$14.9m market cap, or US$9.93m). Announcement • May 08
Argent Biopharma Limited Announces the Appointment of Mr. Igor Bluvstein as Chief Financial Officer Argent BioPharma Limited announced the appointment of Mr. Igor Bluvstein as Chief Financial Officer. Mr. Bluvstein has over 15 years of financial leadership positions in the e-commerce, biotechnology, petrochemical, and medical cannabis industries. He served as the CFO at MDD Group, as Regional CFO at Frutarom Industries Ltd. (acquired by International Flavors & Fragrances Inc. (NYSE: IFF), as the CFO of an e-commerce retailer, as a Financial Controller at Mirland Development Corporation PLC, and as a senior auditor at Ernst & Young Global Ltd. Mr. Bluvstein holds a Bachelor of Arts in accounting and economics from the Open University in Israel. He is also a Certified Public Accountant (CPA). Announcement • Apr 16
Argent BioPharma Limited Announces Appointment of Shlomo Sadoun to the Advisory Board Argent BioPharma Limited announced Dr. Shlomo Sadoun has joined Argent BioPharma's advisory board with immediate effect. Dr. Shlomo Sadoun has over 18 years of experience in the pharmaceutical sector. Dr. Sadoun co-founded and leads SK-Pharma Group, a global pharmaceutical company operating in 18 countries. SK-Pharma specialises in producing and marketing generic, specialty pharma, hybrid generics, and biosimilar pharmaceutical Additionally, Dr. Sadoun serves as the CEO of Arphio, an orphan drug company utilising proprietary technology to promote, market, and sell orphan drugs worldwide. Dr. Sadoun's expertise lies in leveraging technology to redefine business processes. He has established strategic alliances with over 200 innovative companies and launched more than 300 products globally, many of which were pioneering and branded. Dr. Sadoun's adeptness in utilising technological advancements has propelled SK-Pharma to become the fastest-growing pharmaceutical group in Israel and beyond. Dr. Sadoun holds a master's degree in Global Management from Salford University and a Doctorate in Business Administration from the Royal Academy of Economics and Technology in Switzerland, with a focus on public health. New Risk • Jan 23
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.2m (US$8.65m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Negative equity (-AU$8.0m). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (over 14x increase in shares outstanding). Market cap is less than US$10m (AU$13.2m market cap, or US$8.65m). Minor Risk Revenue is less than US$5m (AU$3.4m revenue, or US$2.2m). Announcement • Jan 10
MGC Pharmaceuticals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.74 million. MGC Pharmaceuticals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.74 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,480,000
Price\Range: AUD 0.5
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Dec 19
MGC Pharmaceuticals Limited's Product Artemic Receives FDA Approval in Saudi Arabia MGC Pharmaceuticals Ltd. announced that it has been granted approval for its proprietary product ArtemiC by the Food and Drug Authority in the Kingdom of Saudi Arabia (Saudi FDA). Following the success of Phase II clinical trials and European studies on its effectiveness in assisting with the recovery of patients from Covid and long-term Covid, ArtemiC™? has now been approved by the Saudi FDA as an over-the-counter (OTC) dietary supplement. In addition, MGC Pharma appointed specialist consultancy Capital Blossom Ltd. in 2022 as its agent to the Kingdom of Saudi Arabia, Sultanate of Oman, United Arab Emirates, Bahrain, Kuwait, and Qatar. Capital Blossom, through its joint venture collaboration with its Saudi partner have worked on obtaining the approval of the Saudi FDA. ArtemiC™? is a clinically tested product. Developed by MGC Pharma, it incorporates GraftBio®? SNEDD technology, which increases the bioavailability of ArtemiC™?'s active ingredients. In a Phase II double-blind, placebo-controlled Clinical Trial on 50 patients with COVID-19, ArtemiC™? demonstrated the following advantages: A full safety and efficacy profile with no drug-adverse events. The ability to prevent deterioration of COVID-19 patients and achieve faster clinical improvement. The ability to reduce symptoms and pain associated with COVID-19. Board Change • Dec 08
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director Layton Mills was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 01
MGC Pharmaceuticals Limited Announces Board Changes MGC Pharmaceuticals Ltd. announced the following changes to the Board. Mr. Daniel Robinson has been appointed as a Non-Executive Director of the Company effective immediately. Mr. Robinson has over 20 years' experience in a broad range of corporate roles across stockbroking, corporate advisory, investor relations and governance. He is an experienced Company Secretary and Director of both private and listed companies. Additionally, Mr. Robinson is a Member of the Australian Institute of Company Directors. Dr. Stephen Parker and Dr. Ross Walker will be stepping down from the Board to pursue other opportunities. Announcement • Nov 08
MGC Pharmaceuticals Limited has completed a Follow-on Equity Offering in the amount of AUD 12.4 million. MGC Pharmaceuticals Limited has completed a Follow-on Equity Offering in the amount of AUD 12.4 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 31,000,000
Price\Range: AUD 0.4
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Oct 09
MGC Pharmaceuticals Limited, Annual General Meeting, Nov 30, 2023 MGC Pharmaceuticals Limited, Annual General Meeting, Nov 30, 2023. Agenda: To consider the election of director. Reported Earnings • Oct 05
Full year 2023 earnings released: AU$0.007 loss per share (vs AU$0.008 loss in FY 2022) Full year 2023 results: AU$0.007 loss per share. Revenue: AU$3.39m (down 28% from FY 2022). Net loss: AU$20.8m (loss widened 2.3% from FY 2022). New Risk • Sep 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$11m free cash flow). Share price has been highly volatile over the past 3 months (46% average weekly change). Negative equity (-AU$8.1m). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Market cap is less than US$10m (AU$13.3m market cap, or US$8.47m). Minor Risk Revenue is less than US$5m (AU$3.4m revenue, or US$2.2m). Reported Earnings • Sep 01
Full year 2023 earnings released: AU$0.007 loss per share (vs AU$0.008 loss in FY 2022) Full year 2023 results: AU$0.007 loss per share. Revenue: AU$3.39m (down 28% from FY 2022). Net loss: AU$20.8m (loss widened 2.3% from FY 2022). New Risk • Aug 31
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Share price has been highly volatile over the past 3 months (43% average weekly change). Negative equity (-AU$2.9m). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (AU$12.3m market cap, or US$7.97m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (44% increase in shares outstanding). Revenue is less than US$5m (AU$4.8m revenue, or US$3.1m). Announcement • Aug 15
MGC Pharmaceuticals Limited Announces Positive Pre-Clinical Trial Results on CimetrA® MGC Pharmaceuticals Ltd. announced positive pre-clinical trial results from the recently completed Pre-clinical Chronic Toxicology Evaluation of 14 days oral dose of CimetrA®. The recently completed study was undertaken on 32 domestic swine, that received a study treatment (three dosages groups of CimetrA® and Placebo) for 14 days. During this period, the clinical parameters were recorded, blood (hematology, coagulation and chemistry) and urine tests were collected and sent to the histopathological evaluation. The study demonstrated that following the full chronic safety and toxicology analysis of CimetrA® in large animals - the drug was found to be safe. The histopathological analysis of the full organs spectrum demonstrated all tissues of all animals were normal and unaffected. It was concluded that the test article at the dosage administered did not induce toxicological changes. No changes in the blood and urine samples were reported. The study was performed under animal EC approval in the GLP certified Lab Science in Action, Ness Ziona, Israel, and is an important step in the Investigational New Drug ("IND") submission preparation for the US Food and Drug Administration ("FDA"). The study was designed and managed according to industry guidelines and the IND submission is planned for first quarter of 2024. Announcement • Jul 30
MGC Pharmaceuticals Limited Announces Executive Changes MGC Pharmaceuticals Limited on 1 June 2023, Mr. Brett Mitchell and Mr. Nativ Segev, stepped down from the Board, reflecting the changing direction of the Company as the company moves away from the medicinal cannabis sector toward a more pharma-focused business strategy. Dr. Stephen Parker, currently Non-Executive Director of the Company, has replaced Mr. Mitchell as interim Non-Executive Chair. The company will appoint a new Australian non-executive director ensuring compliance with section 201A(2) of the Corporations Act and the ASX Listing Rules. The company has also appointed Mr. Layton Mills as a Non-Executive Director of the Company. Mr. Mills is an experienced life-sciences executive, having worked in the biotechnology and life sciences industries for over 15 years, developing significant experience across human and animal health in pharmaceutical and consumer healthcare. Announcement • Jul 29
MGC Pharmaceuticals Limited Announces Resignation of Arron Canicais, Joint Company Secretary MGC Pharmaceuticals Ltd. announced that Mr. Arron Canicais has resigned as Joint Company Secretary effective July 28, 2023, with Mr. Rowan Harland remaining as sole Company Secretary. New Risk • Jul 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Share price has been highly volatile over the past 3 months (22% average weekly change). Negative equity (-AU$2.9m). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Market cap is less than US$10m (AU$12.3m market cap, or US$8.28m). Minor Risk Revenue is less than US$5m (AU$4.8m revenue, or US$3.2m). Announcement • Jul 15
MGC Pharmaceuticals Limited has completed a Follow-on Equity Offering in the amount of £0.65 million. MGC Pharmaceuticals Limited has completed a Follow-on Equity Offering in the amount of £0.65 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 541,666,667
Price\Range: £0.0012
Discount Per Security: £0.000072
Transaction Features: Subsequent Direct Listing New Risk • Jul 05
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.4m (US$8.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$14m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-AU$2.9m). Earnings have declined by 18% per year over the past 5 years. Market cap is less than US$10m (AU$13.4m market cap, or US$8.95m). Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Revenue is less than US$5m (AU$4.8m revenue, or US$3.2m). Announcement • May 30
MGC Pharmaceuticals Limited Announces Board Changes, Effective 1 June 2023 MGC Pharmaceuticals Limited announced the following changes to the Board and its lead UK advisers, as a further development in its pharmaceutical business plan. Mr. Brett Mitchell and Mr. Nativ Segev, will step down from the Board, reflecting the changing direction of the Company as MGC Pharmaceuticals moves away from the medicinal cannabis sector toward a more pharma-focused business strategy effective 1 June 2023. Dr. Stephen Parker, currently Non- Executive Director of the Company, will replace Mr. Mitchell as interim Non-Executive Chair. The Company will appoint a new Australian non-executive director ensuring compliance with section 201A(2) of the Corporations Act and the ASX Listing Rules. Reported Earnings • Mar 03
First half 2023 earnings released: AU$0.004 loss per share (vs AU$0.003 loss in 1H 2022) First half 2023 results: AU$0.004 loss per share (further deteriorated from AU$0.003 loss in 1H 2022). Revenue: AU$2.66m (up 3.8% from 1H 2022). Net loss: AU$10.9m (loss widened 46% from 1H 2022). Revenue is forecast to grow 45% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 32% per year, which means it is significantly lagging earnings. Announcement • Feb 03
MGC Pharmaceuticals Limited Announces Change of CFO MGC Pharmaceuticals Limited announced that Ms Angela Marie Graham has ceased in her role as Chief Financial Officer of MGC Pharma, with Mr. Tom Cairns, MGC Pharma's UK based Group Financial Controller, assuming role of Chief Accounting Officer (CFO equivalent) reporting directly to MGC's Managing Director and CEO with respect to finance and accounting matters. Announcement • Jan 10
MGC Pharmaceuticals Ltd Completes the Pre-Clinical Rodent Studies on Cimetratm MGC Pharmaceuticals Ltd. has completed the pre-clinical rodent studies on CimetrATM, which are a key step in the clinical pathway prior to the planned FDA Investigational New Drug submission. Research using rodent and mammalian models are used to delineate the pharmacokinetic profile and general safety of a drug, as well as to identify toxicity patterns over a given period for the treatment before it advances to the next stage of trials, as required by US Food and Drug Administration criteria. The Study was undertaken to determine toxicological effects of CimetrATM over a 14-day period in rats, and was undertaken by the Smart Assays and Science in Action Laboratories in Israel, and comprised four study groups, three separate dosage groups, and one control group, with the treatment administered over a period of fourteen days, followed by a seven day review period. Blood samples for the pharmacokinetic analysis were taken on a daily basis, and histopathology tests were conducted on all organs per FDA guidelines. No anomalies were observed in the biopsies taken, nor were any clinical or behavioural adverse events recorded. This Study is crucially important in the regulatory approval process for Investigational New Drugs approval by the FDA, and forms a key part of the metrics for the FDA's Center for Drug Evaluation and Research, the commercial and consumer watchdog, and gatekeeper to the US pharmaceutical market. There is a strict process for FDA approval: discovery, preclinical development, and clinical trial, where the boundary between preclinical development and clinical trial is sharply defined by the IND approval. Final FDA approvals will ensure that CimetrATM meets the criteria for further clinical study and development in the US, and ultimately commercial sale, therefore opening up the largest healthcare market globally to MGC Pharma. Board Change • Jan 10
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Senior Independent Director Stephen Parker was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Jan 03
MGC Pharmaceuticals Limited Announces Resignation of Evan Hayes as Director MGC Pharmaceuticals Limited board also advises that Mr. Evan Hayes has resigned from his position as a non-executive director of the Company, effective 1 January 2023, as part of the Company's transition to a dedicated life sciences pharmaceuticals company. As a result of Mr. Hayes' departure, MGC's board will be reduced to 5 directors, with the Company continuing to evaluate the composition of the board over the next 6 months to ensure that it reflects its position as a European based life sciences pharmaceutical company. The Board would like to thank Mr. Hayes for his valued contribution during his tenure on the board, and wish him well for the future. Price Target Changed • Nov 16
Price target decreased to AU$0.04 Down from AU$0.07, the current price target is provided by 1 analyst. New target price is 208% above last closing price of AU$0.013. Stock is down 73% over the past year. The company posted a net loss per share of AU$0.0079 last year. Reported Earnings • Oct 04
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: AU$0.008 loss per share (in line with FY 2021). Revenue: AU$4.73m (up 58% from FY 2021). Net loss: AU$20.3m (loss widened 28% from FY 2021). Revenue missed analyst estimates by 69%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 55% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Pharmaceuticals industry in Australia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Reported Earnings • Sep 02
Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2022 results: AU$0.007 loss per share. Revenue: AU$4.65m (up 57% from FY 2021). Net loss: AU$16.8m (loss widened 8.8% from FY 2021). Revenue missed analyst estimates by 69%. Earnings per share (EPS) exceeded analyst estimates by 100%. Over the next year, revenue is forecast to grow 431%, compared to a 662% growth forecast for the Pharmaceuticals industry in Australia. Price Target Changed • Aug 08
Price target decreased to AU$0.07 Down from AU$0.14, the current price target is an average from 2 analysts. New target price is 289% above last closing price of AU$0.018. Stock is down 56% over the past year. The company is forecast to post a net loss per share of AU$0.0018 next year compared to a net loss per share of AU$0.0081 last year. 
